(RTTNews) - Neuphoria Therapeutics Inc. (NEUP), a late-stage biotechnology company, Wednesday announced that a $15 million milestone payment is due from Merck & Co., Inc. (MRK).
Shares of Neuphoria Therapeutics are increasing by 20% in the pre-market trading.
Neuphoria has reached its second milestone in its partnership with Merck, earning a $15 million payment.
The agreement allows Neuphoria to receive up to $450 million in future milestone payments for developing and commercializing multiple drug candidates, along with royalties on sales of any approved medicines.
Merck has started a Phase 2 clinical trial by name - NCT06721156 to test the safety and effectiveness of MK-1167, a drug that enhances a7 nicotinic acetylcholine receptors, for treating Alzheimer's disease symptoms. This trial has triggered a payment.
In the pre-market trading, Neuphoria is 20.90% higher at $5.34 on the Nasdaq.
In the pre-market trading, Merck is 0.09% higher at $86.59 on the Nasdaq.
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